Balfour Beatty plc

Balfour Beatty raised its full-year guidance after reporting a 42% increase in first-half profit from earnings-based businesses to £153 million. Revenue rose 8% to £5.6 billion, earnings per share climbed 51% to 21.7 pence, and the interim dividend was lifted 12% to 4.7 pence per share. The company now expects low double-digit growth in earnings-based business profit, net finance income of £35 million to £40 million, and average net cash of £1.5 billion to £1.7 billion, while remaining on track to complete its £200 million share buyback. U.S. Construction returned to profitability, and the power transmission order book grew to £2.1 billion, supported by a £6 billion to £8 billion pipeline of projects in design.